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El Nino Ventures Inc Announces $2,000,000 Private Placement


Tuesday, 26 Feb 2013 06:16pm EST 

El Nino Ventures Inc announced a non-brokered flow-through and non flow-through private placement of up to a combined 33,333,333 units for gross proceeds up to $2,000,000. Each non flow-through unit ("NFT Unit") at a price of $0.06 per NFT Unit will consist of one common share and one-half of one non-transferable share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.12per share for 18 months from closing. Each flow-through unit ("FT Unit") will consist of one common share and one-half of one non flow-through, non-transferable share purchase warrant at a price of $0.065 per FT Unit. Each Warrant will entitle the holder thereof to purchase one additional non flow-through common share of the Company at $0.13 for a period of 18 months from closing. The proceeds from the private placement received from the sale of the flow-through units will be used for the further development and exploration of the Murray Brook Polymetallic project and exploration of adjacent Camel Back property, both located in the in Bathurst mining camp, New Brunswick. The proceeds from the sale of NFT Units will be used as working and general working capital. 

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